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Palm oil rises for third day, tracking crude oil and Dalian
JAKARTA: Malaysian palm oil futures rose for a third consecutive session on Wednesday, buoyed by stronger crude oil prices and gains in rival edible oils on the Dalian market. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange gained 51 ringgit, or 1.09%, to 4,733 ringgit ($1,160.05) a metric ton by the midday break. “The FCPO is tracking Dalian performance and crude oil prices today,” a Kuala Lumpur-based trader said. Oil prices climbed on Wednesday after two vessels were struck in the Strait of Hormuz and Iranian officials told Reuters they were ...
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